Cbn recovered over n60 billion excess charges

That's a great piece of news!

CBN (Central Bank of Nigeria) has recovered over N60 billion (approximately $160 million USD) in excess charges imposed on customers by banks. This is a significant achievement, especially considering the impact it will have on the financial well-being of many Nigerians.

For those who may not be aware, the CBN had earlier directed banks to refund excess charges to customers who were overcharged for services such as ATM withdrawals, card maintenance, and other fees. This move was aimed at promoting transparency and fairness in the banking sector.

The recovery of over N60 billion in excess charges is a testament to the CBN's commitment to protecting the interests of Nigerian consumers and promoting a more competitive and customer-friendly banking environment.

What do you think about this development? Do you have any experience with excessive bank charges?